These are the weeks I live for.
The weeks I get to take a stand AGAINST the market because my 2+ decades of trading and market education experience tell me the time is right!
Folks, here at Raging Bull our gurus and educators are constantly “on the airwaves,” delivering LIVE educational and real-time trading events.
So, sometimes, when market signals demand it, our gurus have to switch things up and alert members to actional market developments!
And this past Thursday, when The Professor, Mike Parks, was educating members on trading “1,2,3 entries,” I just had to cut in front of Mike with a breaking announcement.
Yes, I did it with such ferocity, because my conviction level was so high.
Don’t worry…Mike’s a big boy who has been trading for several decades, so his emotions are basically mush at this point.
So what was so urgent that I had to interrupt Mike’s session?
Thursday’s trading brought overwhelming evidence that a short-term bottom was about to develop in SPY and QQQ.
After a long streak of favorable Bullseye Trades over the past several weeks, this week’s Bullseye idea to buy Puts in UVXY got off to a bit of a slow start.
Here’s the actual screenshot of that recommendation from Monday’s alert to members:
As a quick reminder, UVXY represents the short-term VIX futures ETF, so when you’re buying Puts in this ETF, you’re betting the VIX will fall, which typically coincides with a rise in SPY and QQQ.
So, I had already been anticipating a drop in volatility (the VIX) to start the week…it just took a bit longer than expected for the process to gain steam.
Through patience and conviction, this idea finally gained a head of steam on Thursday, which is the day I had to cut into our regularly scheduled education content to POUND THE TABLE that a bottom was imminent!
What did I see that led me to this?
It’s like I said at the open, EXTREME SENTIMENT…or in this case, EXTREME FEAR as revealed by the Fear and Greed Index and Put/Call Ratio shown below.
Now, I’ve got a plan on how to play this market from here.
The question, however, is DO YOU?
I’ll be going live every Monday at 11 am to talk through my Bullseye Trade plan, but you’ll have to have access to this room, and time is running out.
There will also be “flash sessions” where I quickly get on and make a live trade!
To YOUR Success!